Chinese coal prices edge down in Q1Monday, 27 Apr 2009
Sources from China's Logistics Center indicated on April 23rd that China coal supply demand relations had basically maintained a loose state in the Q1 of 2009 and coal market price had edged down. Experts estimate that coal price may continue to decline in the year, and that the downtrend won't stop till the high season of this winter.
In Q1 of the year, China's net imports of coal remained at 6.21 million tonnes. The newly emerged resources stayed at 620 million tonnes up by 6.6%YoY.
According to the prediction of experts, production of China coal mines may increase slightly in this year, reaching 2.85 billion tonnes. Under the impetus brought about by the stimulus package, coal demand is expected to go up gradually. China's total coal consumption is predicted to be 2.8 million tonnes of the year and coal supply will be at ease.
They also predict that China's coal exports will continue to fall, and that the total export volume of coal will remain at some 35 million tonnes.
(Sourced from.Mysteel.net)
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